Understand the FATCA rules, which compel U.S. citizens to report foreign accounts. It is designed to prevent tax evasion.

The Internal Revenue Service rarely penalizes taxpayers who have high balances in foreign bank accounts and fail to file the proper forms, according to a new report. Processing Content The report, ...

A new court case now allows the IRS to immediately collect $10,000 penalties from U.S. owners of foreign corporations who fail to file Form 5471. For taxpayers with foreign corporations, the IRS just ...

There are substantial challenges for U.S. taxpayers, expatriates, and foreign nationals and spouses who live and work in the United States, with offshore accounts, assets, investments, business ...